Show SALE OF candelaria MINES the candelaria mines near candelaria nevada famous producers of the white metal in the past and credited with a production of or more before adverse conditions led to their being closed down have been sold to a syndicate of new york capitalists according to the nevada mining press of reno which says frank al manson a large stockholder in the candelaria mines company telegraphs the nevada mining press from new york that the mines of the candelaria mines company at the old camp of candelaria mineral county have been sold to a strong coterie of new york men the mines were examined and sampled about one month ago by charles D kaeding who is closely affiliated with new york interests that are heavily interested in the porcupine district ontario canada names of the purchasers were not given in the telegram but it was stated that aggressive development will follow the candelaria mines company was formed about eighteen months ago to take over and operate the old argentum and mt diablo mines that contain a large tonnage of mill ore in mine workings and on dumps later the company purchased the lucky hill group which is on the mt diablo ore channel and has shipped considerable ore from this ground running from 20 to 40 ounces silver tests also have been made on ores from the argentum and mt diablo to determine a suitable mill process other properties included outright title is vested in the company to the lucky hill group of eighty acres badger group of forty acres H G group blanche claim and H G 85 acres and the lake and dorris lode claims and mill buildings the argentum and mt diablo mines and the esmeralda water milling company are held under bond and lease the water company holds rights in the white mountains distance twenty seven miles which formerly supplied the camp with water by means of a pipe line produced over the record of the production of the candelaria mines shows over at a time when it cost a minimum of 20 per ton to mine and mill this is according to government records when in 1893 the price of silver declined to 78 cents the mines were unable to make their accustomed big profits with the extravagant and antiquated methods of mining and milling and the camp was practically abandoned until 1916 exploration and actual shipments beginning in 1916 showed a vast mineralized area in the lucky hill properties with average silver values of 24 ounces ores available for milling in the argentum and mt diablo properties are carefully estimated at tons with average values of 12 to 14 ounces of silver as shown by the complete report issued by the company the report of W 0 manson under date of march 16 1919 contains the following the results of my sampling of the mine dumps being on the railroad sandwith and with the object of buying them to mix with the high grade ores coming out of tonopah in order to reduce my freight rate was uniformly 14 ounces of silver per ton on a minimum of tons and the same result from the grab samples taken out of the old not for definite measurements but possibly a million tons the quartz porphyry which holds the values as a silver chloride shows no enrichment caused by the alteration or decomposition of the gangue consequently these can be depended upon even into the sulphide zone not yet reached at the 1100 foot level mr mansons conclusion is that the company can depend on a minimum profit of 7 per ton the tonnage limited only by the mill dapa capacity city and securing labor and water while the price of silver keeps above 85 cents turner makes report the report of J K turner on the lucky hill properties of the candelaria mines company shows that records at the mine prove that tons of ore averaging 22 ounces silver to the ton were shipped during the fourteen months preceding the date of his examination this ore was not sorted but was shipped as broken the estimated working production costs of all the mining properties under control of the candelaria mines company based on a production and treatment of 1000 tons a day is 4 per ton divided as follows mining and development 1 milling overhead 50 cents officers of company william H barnard treasurer of the international ter national salt company new york is president of the candelaria mines company james W salisbury bristol L I 1 is treasurer and frederick C hunter of hunter new york attorneys is secretary these officers and J C peebles of the western ore purchasing company reno form the board of directors J F coleman of coleman reitz new york curb brokers looked after the new york interests and made occasional trips to the mine A J jarmuth is mine manager and has directed development the principal office is in reno new york executive office at no 2 rector street new york security transfer registrar company 66 broadway new york transfer agent |